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Corporate Accounts and Network Practice

Our Corporate Accounts Practice is designed to provide services to clients who require access to conventional, economic insurance program in secure markets, with appropriate and relevant levels of claims administration and program servicing. The key areas of placement are Property/Business Interruption, Public/Products Liability, Employees’ Compensation, Machinery Breakdown, Computer All Risks, Money and Motor Fleet.

Willis’ Global Network provides an unequaled standard of service in handling international insurance programs in more than 100 countries. Our office work closely with all other Willis branches and affiliated companies to provide services to global international clients. We comply with our standard network rules and operating. Other than providing support on global insurance program, we are keen to provide consultancy service to our international clients on local compulsory insurance coverage enquiry and placement.

Employee Benefits Practice

We specialize in designing benefits program to suit the specific needs of our clients – whether a local business or an international corporation. We can provide a range of options which offer the best coverage at the most affordable cost, and provide support in communicating to your employees the value of the benefits you are providing. The key areas of placement are Group Medical and/or Dental Plan, Group Life, Corporate Travel, Group Personal Accident and Key Man Insurance.

Financial and Executive Risks Practice

The risks faced by financial institutions, professional practices and senior corporate executives are rarely fully addressed by traditional insurance products. The modern business environment requires these special risks be given special consideration; areas where we can help include:

  • Bankers Blanket Bond
  • Professional indemnity
  • Directors and officers liability
  • Medical Malpractice
  • Intellectual Property and Copyright Infringement

Financial Institutions Practice

The Willis Financial Institutions Group ('FIG') works across our product brokering teams to bring together the resources and expertise that are catered for the Financial Institutions segment. As part of the wider FIG Asia team, FIG Hong Kong focuses on issues and concerns that are of particular relevance to Financial Institutions in Hong Kong and Asia.

Using Willis' unique risk perspective and deep industry knowledge, combined with data and analytics, FIG will help Financial Institutions:

  • Identify, quantify and manage emerging and constantly evolving risks in the environment that Financial Institutions operate within
  • Correlate and mitigate these risks in a measurable and demonstrable way to regulators and shareholders
  • Achieve Balance Sheet Protection through decreased loss payments and appropriate insurance limits
  • Improve cash flow and liquidity through increased claims recoveries and decreased claim collection time

Construction Risk Practice

Our Regional construction team reflects Willis’ global strength in construction insurance program. We provide insurance, reinsurance and consultancy services for projects from their feasibility stage, through construction, testing and commissioning and on to handover to operations.

Our program are tailored to the needs of each of our client’s projects, and we work regularly with all members of the construction community, including principals, contractors, developers and project financiers. We handle a wide variety of projects, including property development, highways, rail/metro systems, ports/harbours, petro-chemical facilities, power plants and airports. Our key service offerings include:

  • Private Finance Initiatives/Project Finance
  • Major project program
  • Owner-controlled program
  • Delay in start-up/advanced loss of profits
  • Latent defects
  • Project consultancy

Global Risk Management

Our Global Risk Management is organized to meet the needs of the sophisticated buyer who requires more than just a standard transaction. Your adviser needs to understand your business and, acting as a strategic business adviser, provide access to the range of resources needed by a complex organization, e.g. Risk Management, Alternative Risk Transfer, Captive Management, Facultative Reinsurance, Claims Management, etc, in addition to the specialized placements for Financial/Professional Risks, Construction, Employee Benefits and Marine.

Marine Practice

Hong Kong is an economic gateway to Mainland China and has maintained its status as the largest container port serving southern China and one of the busiest ports in the world; in 2012 alone, Hong Kong handled 23.1 million TEUs of cargo whilst 25.68 million passengers passed through the terminals. As the complexity and quality of cargos has increased, so has the potential for an increased loss exposure has developed.

Our Marine Team provide a local service to meet local needs, but have access to over 300 marine insurance specialists in London. Our core services include:

  • Hull Risks (incl. Mortgagees Interest, Shipyards and Ports)
  • Liability Risks (Stevedores, Wharfingers, terminal operators, Ships Repairers)
  • Trade and Logistics (Freight Forwarders, Manufacturers, Importers, Traders, Captives and Risk Analysis)
  • Protection and Indemnity (Pollution, Cargo, Crew)
  • Charterers' Liability
  • Piracy and War risks
  • Qualified claims handling and adjusting team

Macau Branch

Being the market leader in Gaming and Hospitality insurance broking and risk management firm in Macau, we provide service and placement support locally to both local and international hospitality and gaming clients.

Our Macau branch is also dedicated to service our overseas multi-national client accounts. While many of these have global program in place, a number of important insurances, i.e., Employees Compensation, Employee Benefits and Motor Insurance; must be placed in local markets to comply with statutory requirements according to the rulings of the local insurance regulator, the Monetary Authority of Macau or AMCM.

Mergers and Acquisitions Practice

The Mergers & Acquisitions Practice is focused on providing the buyout community and corporates with a single resource to satisfy risk issues associated with a merger or acquisition. Our experienced, dedicated professionals concentrate on assessing, quantifying and insuring the risks and exposures arising from mergers, acquisitions and corporate transactions. The Willis team combines due diligence, transaction solutions, risk advisory and insurance coverage placement within one practice to increase efficiency and communication during a transaction. Operating on a global platform, Willis' M&A team brings depth and breadth of expertise across diversified industries, geographies and lines of coverage.

Our team includes leading experts in negotiating risk transfer contracts and managing risks faced by private equity funds and alternative asset funds. Our manuscript coverage forms and experience have paid dividends in providing certainty of coverage in a world of ever-increasing fund liability related to investments in portfolio companies and the management of funds.

M&A Consultancy/Due Diligence
Specialist consultants are available to conduct a risk and insurance due diligence exercise on target acquisitions to augment and supplement the client's own investigations. By identifying potential areas of exposure, we can help both vendors and purchasers plan for future contingencies.

Key services include:

  • Review of financial impact of the cost of insurance risk
  • Quantifying post closing insurance costs for all lines of coverage
  • Identification and quantification of contingent liabilities and liabilities assumed via purchase agreements
  • Purchase and sale agreement analysis/ successor liability issues
  • Identification of liabilities and plan design improvement opportunities

We develop cover as well as seek new and innovative ways to mitigate risks arising out of corporate transactions, which may include bespoke policies to incorporate all or part of the following coverages:

  • Representations & Warranties
  • Successor Liability
  • Loss Mitigation/Loss Capping
  • Prospectus Liability

Insurance programmes can be designed to allow a fund to leverage the collective buying power of its portfolio companies through portfolio programmes. Typical benefits can be:

  • Reduced costs
  • Coverage optimization
  • Consistency of service
  • Increase in management information
  • Fund Liability. Potential liability and other threats to a fund. These risks to the fund may stem from sponsor-to-sponsor litigation, regulatory investigations, limited partnership claims and portfolio company claims

Transportation Practice

The Transportation Sector (rail, light rail, ferries, trams, buses, etc.) is an integral component of the commercial infrastructure in a developing Region.

Transport operators present a unique set of risk exposures associated with the rapid transport of large volumes of people within an “open” transportation system. Our services to this important sector recognize the distributed and often exceptional nature of these risks, and include:

  • Third Party Liability (passenger, third party and product safety)
  • Employees’ Compensation
  • Property/Business Interruption
  • Professional Indemnity
  • Employee Benefits
  • Safety Management System development and audit
  • Security Management
  • Environmental Risk Management
  • Business Continuity Management

Claims Management

Willis Claim Management Consultants provide a seamless approach to the handling and management of claims. Our team of professional claim experts is experience at handling the simplest to the most complex claim. No matter what an organization’s claim needs or exposures are - be it Employees’ Compensation, Property, Executive and Financial Risk, General Liability, Marine, our team of claim experts are at hand to provide fast and efficient service claims service.

We provide a comprehensive line of services which enables claims to be finalized expediently and effectively. Our services include:-

  • Claims Advocacy
  • Assistance in the negotiations with insurer’s representative
  • Claims strategy reviews
  • Coverage analysis and consultancy

Risk Management Services

Managing the risk associated with running a business is a fundamental management responsibility. With the increasing requirements imposed by stakeholders, regulators, legislators and customers, some organizations need help to develop the risk management systems they need.

Our services are framed to support our clients in the following key areas:

  • Enterprise Risk Management
  • Risk Engineering
  • Corporate Safety Management
  • Supply Chain Risk Management
  • Project Risk Management
  • Business Continuity Management

Fine Art, Jewellery and Specie

Willis is the largest insurance broker in the world dealing specifically with international Fine Art, Jewellery and Specie Risks. Known worldwide for our expertise and specialist knowledge, we offer tailor made solutions combining the widest cover alongside competitive premiums. We offer solutions for:

  • Private Collectors and Corporate Collections
  • Museums
  • Exhibitions
  • Galleries and Art Dealers
  • Auction Houses
  • Fine Rare Wine and Vintage Cars
  • Collectibles

Political and Trade Credit

Willis specialises in structuring insurance products to mitigate the risks of trading with, or investing in, volatile emerging markets. Due to a combination of government actions, ineffective legal systems, war and revolution and shortages of hard currency, such risks are being looked at more closely than ever. We can advise, arrange and syndicate policies to protect against risks including:

  • Expropriation
  • Sovereign borrower default
  • Exchange transfer controls
  • Corporate default
  • License Cancellation.
  • Political Violence.
  • Currency Inconvertibility.
  • Business Interruption.

Willis Capital Markets and Advisory (WCMA)

WCMA is a specialised investment banking boutique exclusively focused on the insurance industry. Our global team of 32 investment banking professionals are exclusively focused on the insurance sector with a combined 275 years of collective investment banking experience. The team is based in New York, London and Hong Kong and provides the following services:

  • Mergers & Acquisitions
  • Strategic, Capital Raising and IPO Advisory Services
  • Equity, Debt, Contingent Capital and Insurance-Linked Securities Underwriting
  • Actuarial, pricing, reinsurance, catastrophe modelling,